Poland’s imports are likely to continue to grow faster than exports in the coming months, propelled by the expected investments rebound and continued robust consumption, the daily Rzeczpospolita writes citing economists.
In April exports rose by a mere 0.6%, the weakest rate since October last year and a stark contrast to the average rate of 11.2% in Q1, while imports rose 3.4% year on year following an 18.9% jump in March, NBP data showed.
The April data may indicate that the expected investment recovery did not start as of the beginning of Q2, but it is just a matter of time, BZ WBK economists commented.
Investment pick-up will visibly speed up imports and lead to a reduction of exports’ net contribution to GDP, even despite exports accelerating too, Credit Agricole economists wrote in their latest report.